Why the euphoria when a public figure mentions Bitcoin

[21Pilots]

Why does the crypto community seem so pliable and immediately start glorifying public figures, only if he mentions Bitcoin or cryptocurrencies?
One of the most respected examples, Elon Musk, gave public support to Dogecoin, and the final impression was that he only manipulated, made additional income and possibly promoted his brands.
We have had a slight euphoria about Trump for some time now. I don't want to go into how much weight his words have, but it is remarkable how much the crypto community interprets everything he says, and various discussions about what he will do regarding crypto in the future. Meme coins with his image and name are being created, I even saw signatures in support of Trump on the Bitcointalk forum. I will not even talk about spam on social networks.
Isn't that quite an exaggeration?
Why is the crypto community so susceptible to manipulation?

The reason why many crypto enthusiast goes euphoria about some notable figure on the crypto space, like Elon  musk is because a lot of them, especially on social networks want to be wealthy. Elon musk is a billionaire and so many people want to identity with such person, probability, because they may also be like him.
As you may know, there are people who also want to identity with the wealthy people in the society, and at such situations, they fill that once they get closer with the rich, they may get some form of help that will also make them rich.
I think the world is a funny place, it very obvious that some people even want to be followers of the rich people for a name sake.

This is why so many crypto enthusiasts celebrate when such characters as Elon Musk get involved because here is an opportunity for them to couple themselves with the glamorous figure of success. Such desire tends to be inspired by the desire to become as rich as the person inspiring such desire.

This phenomenon demonstrates that love for money shapes social relations particularly the media. For some, belonging to the circle of the rich, appears to be road to success, even if it is a success only of the follower.

[TomPluz]

This phenomenon demonstrates that love for money shapes social relations particularly the media. For some, belonging to the circle of the rich, appears to be road to success, even if it is a success only of the follower.

This is human nature and people who understand this factor also affecting the world of investment and cryptocurrency can even capitalize and make money from this trend. We belong to a culture that values popularity so much and evidently in an era where social media is clearly dominating our lives we all want to associate with people who are already successful, famous and rich. And as long as the cryptocurrency industry is also made of people like you and me, there is no escaping of this phenomenon.

[bitcoin-shark]

Leaving aside the question of influencing the market, when an important public figure talks about cryptocurrencies I am happy because it captures the attention of many people and therefore makes this fantastic world known, for better or for worse it is enough to talk about it

[Agbe]

Well the euphoria that comes when a public mention crypto currency is not surprising and shocking to me as many people are still contemplating on wether to join crypto or not so when public like Elon musk come out and speak in support of crypto it makes those already in the crypto business happy and it gives them joy that what they are into is getting more respected and recognized , with people like musk getting involved in crypto currency it will create more awareness about crypto and more people who are not yet aware of crypto will become aware of what crypto currency is all about, so personally I will welcome more public figure especially those in the entanglement and business sectors to follow suit

[legend45]

Well the euphoria that comes when a public mention crypto currency is not surprising and shocking to me as many people are still contemplating on wether to join crypto or not so when public like Elon musk come out and speak in support of crypto it makes those already in the crypto business happy and it gives them joy that what they are into is getting more respected and recognized , with people like musk getting involved in crypto currency it will create more awareness about crypto and more people who are not yet aware of crypto will become aware of what crypto currency is all about, so personally I will welcome more public figure especially those in the entanglement and business sectors to follow suit

I also hope that there are public figures who support crypto such as Elon Musk and Trump, this is an attraction for other investors to invest in Crypto. Because public figures have always been a center, what he does will be imitated by many people.

We have seen the impact of Elon Musk during a tweet about Doge, and made the Doge price rise high. Transactions made by Trump with Bitcoin make the price of bitcoin slightly rising.

[erus]

The strong influence of a public figure because they are the ones who are highlighted every day by their followers, even when they are sleeping they see their daily activities. So, it is only natural that public figures have a very big effect on the euphoria about Bitcoin or altcoins. But the effect of the public figure has two purposes, namely positive and negative effects.

+ If the public figure gives a good statement and benefits about Bitcoin and altcoins, the price will go up.
- Conversely, the public figure gives a bad statement, the price of Bitcoin and altcoins will plunge or Dump.

From these 2 sides we must be able to take the right moment because if we are in the wrong position, our portfolio when trading or investing in Bitcoin or altcoins will automatically go down.